live live live live. wealthy british. markets. find out what's really happening to the global economy with mike stronger or no holds barred look at the global financial headlines to come as a report. a telemarketer broadcasting live from washington d.c.

coming up today on the big picture. he.

started this is a part time to reveal to you the secret of global finance it's not about stuff like the acropolis being sold it's about securitizing the acropolis so it can be traded. all the debt held by the bankers will be paid off from trading commissions but before you can do that you have to turn everything into a security oh we'll explain the whole thing anyway stacie ever what's happening well max says so over the past week as greece has been. have austerity measures forced on the greeks we have also seen this have been max debt leading greece finds no buyers and fire sale of national assets so apparently representatives of the greek government while all this protests were going on in

the streets of athens they were in london at claridge's hotel looking to sell off fifty billion euros worth of income producing assets up for sell were thirty nine airports eight hundred fifty ports railways motorways sewage works a couple of energy companies banks defense groups thousands of acres of land for development casinos and greece's national lottery apparently they found no buyers no they want to find any buyers this is the experience of the american indian had with the u.s. army the u.s. army came across the western plains of america and they gave the american indians exactly nothing for the land and the concept of actually owning the land was completely alien to the indians the idea of owning the grand canyon for example was a concept that was completely alien to their culture similarly in greece the idea of securitizing in trading the acropolis is an alien concept they don't

understand it they're being slaughtered by this army of banks toure's who are going to securitize everything and all the commissions from trading all of this of course will be done off balance sheet in the in the shadow banking system in the dark pools greeks will get nothing they'll get absolutely nothing. but the other thing about this is remember you're dealing with con men bank stress here so are these private equity alleged private equity dealers who met with greek government officials are they just straw man and some sort of con are they acting as like market makers you know how you often see this and in america is that the market makers don't appear for especially in the commodities market in gold or silver and they let the price collapse in order to then scoop it up at a very good deal for them and then sell it back at a higher price i mean to use my indian metaphor of there the sioux indian and other

tribes are still waiting for the us to make good on various treaties yeah that were signed three hundred years ago two hundred years ago one hundred years ago that's not worth anything the paper that these traders are written on if you think you're going to get anything in exchange for your assets from the banks that are rolling across the fed of plantations of greece you've got another government and the frenchies plantations i've never seen what it is a grown up plantation right it's not a race better one of the things that was pointed out by one of these private equity bankers is he said there was a lack of transparency again this is caused by goldman sachs has hidden all of the everything assets debt everything off balance sheet nobody knows there is no price discovery possible anymore thanks to goldman sachs and j.p. morgan but there will be once a securitize everything right now the acropolis has a value on a greek books of zero now when goldman sachs comes in and they take control of the

acropolis and they create a security based on the acropolis didn't acropolis back securitization program it'll have a value on the global markets but it'll be traded off balance sheet in the dark exchange and greece will have any access to it but the international bankers will be throwing it back and forth and they'll be borrowing against it that's the key thing all these so-called austerity measures are a way for go. sacks to securitize greek assets to lay another two three four hundred billion in debt on top of the five hundred billion in debt so you've said many times that after greece and the rest of europe america will come become the next victim of the i.m.f. are now taunting the u.s. the i.m.f. a solid in the same exact plan that they enacted against europe economic crisis in greece could reach the united states i.m.f. warns so first they're saying the money markets banks may spread the contagion according to officials so if something happens to greece they're saying that it could spread to the u.s. u.s. taxpayer give us all your money for the i.m.f.

to bail out the greek creditors oh yeah it definitely coming into the u.s. because some countries go was brazil take the i.m.f. out the economy's booming yeah the same situation on egypt they're saying no i.m.f. loans no world bank we don't want the terrorists we don't want the financial terrorists the market fundamentalists the banker jihadi on wall street we don't want them stink and suicide bankers like lloyd blankfein blow himself up here in egypt but in america sense they are basically idol worshippers of pop idol worshippers of lloyd blankfein a merry band of derivatives fraudulent counterfeiters speaking of pop idol there is the pop idolisation going on of j.p. morgan which is the biggest of the banks for occupiers them in the world and they have this former beauty queen who's now a j.p. morgan executive and i see all of the financial blogs posting photos of her and

it's actually in the u.k. process while this this hot babe who is a banker so that's the sort of thing to have trying to create the sort of war shipping of a lot lindsay lohan sort of things of the people of the world because look a lot of these celebrities who are worshiped via twitter and the rupert murdoch's tabloids. they get away with all sorts of stuff because people worship them so when if j.p. morgan can start creating some lindsay lohan type bankers who people will just they'll forgive all how about lloyd blankfein the male unicorn with the probing and slur seasons well you know the i.m.f. never has just a one pronged attack speaking of the unicorn they go multi-pronged i.m.f. urges us to raise is borrowing limit or risk defaulting on debt warns that u.s. debt burden is unsustainable and long term. so august fourth you know the u.s.

needs to raise this debt ceiling or else it technically defaults and the i.m.f. is saying that you have to raise the debt ceiling but your debt is unsustainable. because the i.m.f. international monetary fund world bank united nations they're running the show no barack obama is just basically dancing to the i.m.f. tuning well as we see all governments have to remember prop and radio in in greece he was elected on a very specific platform of tossing these guys out within days he was you know swapping the credit default swaps that were worth tens of billions of dollars he's giving them to buddies and people in secret bankers who know you know speaking of the slump that you just mentioned see his cronies rape the country for twenty billion based on that insider deal or the false but the postal thing i go contacted from a journalist at harper's for the website in america i gave him the facts of the story

and then publish it harper's came back to the writer and said this story is too one sided against the u.s. . and this is just a straight up and down depiction of the facts so america you need to open your mind a little bit in the us you want to be on a you get on the reservation said many times the i.m.f. is after the us next s. and p. will slash america from aaa to d. if the treasury misses a payment so this goes exactly within a few minutes of the i.m.f. saying the us better raise the debt ceiling or they're in trouble well the s. and p. one of the rating agencies who work hand in hand with these international banks the managing director john chambers spoke to reuters and he said quote if the u.s. government misses a payment it goes to deed he says this is known as the selective default that paper that is maturing on august fourth will go to dee dee dee dee dee best lower than triple c.

yes what they say greece is worth triple saying well why doesn't the greek government come out with a ratings report saying america's debts worth a d. therefore sell your american debt we need a place to put that cash card greek debt and we'll give you a play all the options on the acropolis or some of you don't need a war plan for the company until the acropolis may go to grow some of the soul. but its own chambers also noted a default on u.s. treasuries a benchmark against which all other debt is measured would dwarf any worries about u.s. credit ratings as global markets would crumble they're pulling out this all the canard oh the markets will crumble the world as we know it will and oh it's all over it give us all your money yeah well of course there are the two that they've just learned to put a gun to the head of folks and say it's a hijacking like hank paulson i mean times can this work is like bull for and over and over they need to hire somebody from hollywood to get a different scriptwriter because this is boring you know look at every single poster for every single movie that comes out in every single scene or in every

single country it's a guy holding a gun it never stops elling people fear always trumps faith that's. the way of the world if you can scare somebody into giving you their money it's a lot easier than convincing somebody to invest our money speaking of hollywood though america was americans were sold on these wars that across the middle east as you know some big video games sort of film like shock and awe well cost of war iraq afghan wars near four trillion dollars says study so again the costs keep on going up americans don't apparently understand how much they're paying for it those same americans who are sitting there debating saying all the i.m.f. is going to be bailing out these greeks who retire at fifty three years old well what about when we have to bail out the americans who can't stop wars and bombing people all over the world is that any better like i'd rather pay some guy drove retire at fifty three than to go murder a million people somewhere else damage america doesn't understand this or isn't the

energy and food prices are going up so what do you do about these people other than put them on reservations and then finally tying this all back to bankers and the afghan war american choice of plundering their future income afghan banker i have evidence of death plot this is abdul qadeer fit rat the former governor of the afghan central bank and he's fled afghanistan is now in washington hiding out and he's saying that there's a death squad against him and that's why he had to flee but listen to this rats comments come just hours after afghanistan's deputy attorney general said that state rat and other officials at the central bank faced prosecution for not acting on warnings about widespread corruption at kabul bank so the corrupt central banker gives safe haven in washington d.c. under the bernanke is umbrella bernanke he's banking criminal protection program. and meanwhile back in full the american people are killing folks willing really

well yes you could say that ben bernanke in the u.s. is to financial terrorists what the. taliban was two islamic terrorists well said stacy ever thanks for being on the guy's report. back with lots of our stake right there. in the year in iraq because military journalists. we still. there's kind of wasting their time trying to kill. the way. to publicize and invite. who. started the.

mission. critical three. three. three. three. three. videos for your media. free media. welcome back to the kaiser report time now to go to lovely beaches outside of athens greece to talk with economists a professor yes vera fake and janice welcome to the report thank you for having me

. more austerity measures for greece from the news but as it appears the poppy. nation doesn't like the plan but what about economists like yourself do you like the plan i think this is one of those occasions where the crowds collectively shows more rationality than. the greens and the goods in the european union and the police makers and all the analysts who are supporting what in my estimation is a highly irrational totally see for dealing with this is them in crisis well you've got two basic approaches to the various crises around the world there's the austerity and tax approach and then there's the let's print money company by bailouts and work programs that we've seen in the u.s. . neither approach seems to work as it well it worked a lot better in the united states and it works in europe even though the united

states is so from you not out of the woods imagine what this situation would have been without the quantitative easing of one could today europe falls somewhere in between the two alternatives that you could forward and the reason is that the use of has a particularly nasty problem with the very design of its architecture the neither britain noons of the united states. creature right exactly there's an interesting. historical precedent here with the introduction of the euro which. the greece can devalue against other currencies because it's a lot the end of the route and it's basically going head to head economically speaking with germany i see germany as just announced fantastic results with their economy in part because they benefit from the lower year out. because are tied to

greece so germany is getting a benefit from their troubles and grace in ways that a lot of people are talking about why why not why shouldn't germany just leave the euro so that they then are competing with china and america and i'm on a more power for super basis instead of dragging greece into the gutter as germany is doing because of germany believes the year the little miracle that you described is going to go up in a part of smoke within twenty four hours if they were to reconstitute the george martin. market value by christie six three hundred percent and then they would lose their chinese markets and the only thing that keeps germany going alone screaming to be at the moment is the chinese market i want to just thank the so high level for a second here and pick your brain as an economist because you mentioned comparing the u.s. and europe and why quantitative easing. perhaps was a better way to approach the crisis however in the us seems like all they did was

buy some time they got maybe two or two and a half years worth of time and now s. and p. talking about downgrading us debt to d. which would make it even less attractive then the current rating on greek debt of triple c. it doesn't seem as though either approach really makes any sense because what we're talking about here is more of a systemic problem the banks have systemically corrupted the system in ways where they make all the money and everyone else suffers all the losses is that a fair characterization i'm cyrillic. i have. enough of a few photos basing that just like in one thousand nine hundred one socialism. biggest in two thousand and eight when we saw the end of capitalism and sounds a bit extreme but good to seriously believe that this is where exactly what happened we don't really want to come back and it's now and we wonder jeem try go bankrupt crissy it's not the same as bankruptcy it's not ruled by banks it's

through by bankrupt banks the greater the failure of the banks in two thousand and eight and in europe today the greater its power to set the agenda and it's a very strange under which defies the left versus right arguments of free markets versus. collective action or sense of running now we have a situation where the more failed to the most to thank your inability to generate profits the new power you have over those who are right well it's based on that scenario the profits that were being made by the so-called too big to fail banks for years to deregulate or to dismantle free market capitalism and they instituted a command and control financial autocracy in its place so it's a failure once again. land of command and control that we saw in one nine hundred ninety one as you describe it it's a repeat of ninety nine he want to say it's

a failure of the politburo of the federal reserve bank and other central bankers but looking at greece for a second they of course through a seven year period of history experienced military dictatorship under the hyped up can is a really much difference between the hunter and the troika. it's funny you should ask me this yesterday i was talking to an old man who had thought as a partisan resistance against the united states in the night and forty s and he stunned me with a question he said wrote imagine the germans had one black man why would it be different now so you know the position that he drew was not the guy who was with the bill you know we can patient and announces he's going and then and i asked i asked him to continue along that line of thinking and he said look if we're so great we would have a commissioner for on. running things in greece i don't want to go up my spine as

he was going but this is came from the parties and i have to say that i was stuck for words for at least ten seconds before i could conjure up enough strength to suggest that perhaps life would have been worse had an accident or a mansion nazi occupation during all the arts part of that story of course was the nazis taking much of greece's gold gold in greece now amounts to one hundred eleven tons of galt i have asked this question to a few people. you know the history and the economics of grace well what i do have an estimate about how much call germany from greece during that occupation trade of world war two it's more than just a question of gold you have to remember that during the occupation the german authorities extracted a massive blow. you know if it comes from the coffers of the greek a banking system on the occupied banking system and if you combine the gold we've

got loan companies figure which in today's prices is more than five hundred sixty billion years. of course the question is look at me. legally enforceable now ok well let me let me just interject f.r. second because you're saying ok the agreements between that were made have been abrogated they don't exist anymore but here you have a george pappa various government signing off on the memorandum what the i.m.f. a foreign banking institution giving them rights above and beyond the green constitution they are going to take critics call decreases golf as part of the debts that they have imposed grace it's the same deal as you just described to me that the nazis did they think they loaded greece of the bunch of debt then i think they raped greece now the i.m.f. is loaded with of all a lot of debt and they're going to economically rape greece they're going to take the gold they're going to securitize

a lot of ties and trade all the security so how is this different and why should they were why why not why respect this memorandum this memorandum as was cooked up by pap address and under we could only describe it as treasonous i do the i mean i would never expect them around to be fine i had the choice of not respecting and it is quite one thing to say i do not respect i cannot accept the debts that you have imposed upon me it's quite another to good to germany and to go into staking one hundred forty four that you need and quite might be on it and i don't think he's in since in head to dismiss conversation on this on this matter but let me let me try to imprint my view regarding the ins position and the european union's position reserving critics i wish that i would agree with you that this is a conspiracy to loot greeks it is not and i said. it was a group where conspiracy community will be somewhere i am and some reasons and some logic behind what a european to me i am never doing in greece you see i don't believe it is an object

and it will be there is a plan and i don't think there is any over arching object that i think what is happening is this a uterus system was hit particularly hard by the gate an actual crisis of the trade craft of two thousand and eight and it started under our getting our european leaders are at a loss to know what to what to do with it so they they do the wrong thing they know and that is to apply sticky tape be not going to keep it together. and then to face and i can picture which is disintegrating this think it is very expensive it comes in the form of huge loans the loans country greece they have to to throw some bones to their own parliament singling for instance and to explain why these loans are being given to greece and these are bones come in the form of public as at the saban center of a station they were doing it because they want to get something out of greece they're doing it in a state of panic and in

a way that ensures minimum what is this going to be senseless to greece in the pocket and why these huge loans the basics simply because they very much nearly one moment in the french banks which we need to be explosion of the spanish that situation and then do a complete collapse of the euro and then that he considers an of a dodge mark which will introduce a huge uni session in germany now are great politicians run london recently trying to sell great assets far knock down prices how does selling off income producing assets restore the large term economic viability of grace it doesn't at all i mean don't you just to be a very bitter example if a state a lot or the national lottery agrees it produces four hundred million euros of dividends a year for the good state and they're now going to try to sell for nine hundred million now this is urgent on the creaming of a nigga. since it's so rare they're doing it well firstly because they've been told to get it and then the question of course was why are they being totally told to do

it because mrs merkel wants to throw some bones to her members of parliament saying look we're going to x. . shooting themselves in themselves in the foot they can be killing them let's extend those unknowns but in the end it was mrs merkel it's doing she's misleading her parliament in precisely the same way that mrs brook on that it was misleading his parliament because this money is not for this man he's for the french and german banks and for saving the banking system not saving but preventing another collapse of the banking system all right well finally of course we're talking to you you're actually saying on a greek island how much do you want for it how much do you want for your children. yes well that sounds very impassioned but as we know it is more all sad no place than today's global economy morals don't trade on any exchange therefore morals don't exist so it's just it's all everyone's got their price and so they globalized economy so out there is it that when

a little less passion that maybe next week but let me answer this question in a dispassionate way i was talking to investors from switzerland and germany who really wanted to get their hands on going to gas and they said to me often they guns on the last few days that they will withdraw from the from the competition to get these assets and they will be strong because they can sense the passion that you mentioned and it's not want to be involved in assets whose legitimacy the property rights and the trust of all of them will be questioned by a very passionate people we not allow islands and profit and coastlines to be traded in exchange of rocks in exchange of bones that would be had a falling a default and the other possibility is that they're seeking a cheaper price all right that's going to do it yes vera fake us thanks so much for being on the kaiser report. thank you and that's going to do it for this edition of the kaiser report with me max geyser and stacy herbert and i thank my guests yanis

farah thank us if you want to send me an email please there's a at kaiser report at r t t v that are you and i like scientists the nice guys are saying they are. pretty.